Electronic goods manufacturer Victor Company of Japan Ltd (JVC) has joined hands with air-conditioner maker Fedders Lloyd Corporation Ltd (FLCL) to bring top-of-the-line JVC consumer electronic products into the Indian market. JVC will market its audio and video brands through FLCL across India.
FLCL and JVC’s core target audience is 70 per cent of Indian population, who are below the age of 35. The two companies will jointly investing $30 million to create a space for the JVC products in this highly competitive Indian consumer electronics market. During the fiscal period 2008 to 2010, JVC plans to expand its sales in India by more than $200 million.
B R Punj, Chairman and MD, FLCL, said, “JVC and FLCL have concluded this new agreement based upon its judgment that the two companies can work together in cultivating the Indian market with the unified sensibility towards the market and its customers. There will be an ideal synergy to maximise customer satisfaction through our approach for innovative and quality products, and it will be in line with JVC’s brand statement of ‘The Perfect Experience’. I am sure that together we will create truly moving experiences and provide total satisfaction for our customers.”
Kunihiko Sato, President, JVC, said, “For all our consumer audio and video products, JVC has decided to unify the marketing efforts through a strong partnership with a company which has nationwide network of dealers, for the purpose of building an organisation structure that can expand sales in India and take advantage of current and future market.”
Sanjeev Wadhwa, Vice President-Sales and Marketing, FLCL, said, “The marketing strategy is not just to target the consumers demographically, but psycho-graphically as well, through organised retail tie-ups so that consumers can have complete experience of the electronic goods. About $8-10 million has been allotted for mass media campaigns. We will be adopting aggressive brand building initiatives to increase brand awareness and brand visibility. The campaigns will kickstart from January 2008.”